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Surge in ICIEC business

Eng Hani Salem Sonbol, acting chief executive officer of ICIEC

Eng Hani Salem Sonbol, acting chief executive officer of ICIEC

The annual report of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) showed a growth in export credit and political risk insurance business volume. During the year 2014, the corporation facilitated $4.3bn of exports and investments for its member countries, representing an increase of 29 per cent compared to previous year.

Commenting on the results, Eng Hani Salem Sonbol, the acting chief executive officer of ICIEC, said, “This growth in business was a result of the strong relationship with our partners in member countries, as well as international players, in making transactions happen during a critical time in the region as well as in the world.”

The board of directors also endorsed a 10-year strategic framework for the corporation.

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